Altimeter Capital Management plans to raise more than US$3 billion for new private market funds. The firm is a backer of OpenAI and Anthropic. Its new vehicles target late-stage and early-stage technology companies.
Fund targets
Altimeter aims to collect US$2.5 billion for a new venture capital fund. That vehicle would invest in mature companies approaching an initial public offering. It is also discussing an additional US$800 million to US$900 million for early-stage startups.
Company context
Brad Gerstner founded Altimeter in 2008 in Menlo Park. A March 2026 SEC filing showed about US$18.8 billion in regulatory assets under management. The filing also listed 33 private funds, including 31 venture capital funds.
Investment focus
Altimeter holds a major stake in OpenAI. Anthropic is its largest private fund investment. On the public side, Nvidia made up about 19% to 23% of its second quarter 2026 stock disclosure.
Altimeter launched 16 new venture capital funds in the 12 months through October 2026. It launched the US$750 million Altimeter Venture Partners Fund VIII in March 2026. It closed the US$1.5 billion Premier Growth Expansion Fund in June 2026.
Read more: bloomberg.com